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Hotel Real Estate Veteran Bob Perlman Named Director |
| ORANGE COUNTY, Calif., January 12, 2006�Officials of PKF Capital Markets
Group, a leading, national real estate brokerage firm specializing in the
hospitality industry, today announced that it has opened an office in Orange
County, Calif. to capitalize on the West Coast region�s growing market
for hotel real estate. Located in Huntington Beach, Calif., the office
will focus primarily on six western states, but will be national in scope
and work closely with the company�s Houston operations. Additionally,
the company announced that it has named Bob Perlman as director to oversee
the new operation.
�Orange County�s increasing appeal as a vacation destination is filling a growing number of hotel rooms and at higher prices,� Perlman said. �Through the first 11 months of 2005, occupancy jumped 5.8 percent to 72 percent. Because land in the county is so high-priced and scarce, and because of rising construction costs, there are very few new hotels being built. Instead, many of the luxury hotels, including the Newport Beach Marriott, the Hyatt Regency Newport Beach and the Fairmont, are undergoing or have completed massive renovation projects. Due to the continuing profitability of Southern California hotels over the past few years, and the expectation that it will continue for the next few years, hospitality investors find that Southern California represents an exciting opportunity.� �The western region of the country plays an important role in the hotel economy, and the real estate market there is projected to remain attractive for the foreseeable future,� said John Keeling, CEO of PKF Capital Markets Group. �We have been quite active in the western region of the country and believe it is time to establish a full-time presence. We will continue to look for opportunities to open offices in other strategic locations throughout the country. �Bob brings with him nearly 20 years of hospitality real estate brokerage experience to PKF and adds significant bench strength to our firm,� Keeling said. �He has in-depth knowledge of West Coast hotel real estate in general and California specifically. Combined with our PKF Consulting practices in Los Angeles and San Francisco, we believe that PKF will have a substantial competitive advantage in the hotel brokerage community.� Prior to joining PKF, Perlman was a charter member of Cendant�s Coldwell Banker Commercial Hospitality Group. He has consummated more than $100 million in hospitality real estate transactions, involving such well-known brands as Marriott, Hilton, InterContinental, Choice, Best Western and various Cendant brands, as well as independent hotels and resorts. Perlman formerly served for 25 years as a financial and real estate market sales executive with 3M Company. The West Coast office of PKF Capital Group is located at: 18377 Beach Blvd., Suite #106
PKF Capital Markets Group (PKF CMG), headquartered in Houston, is a subsidiary of PKF Consulting, a consulting and real estate firm specializing in the hospitality industry. PKF CMG professionals are experienced hotel real estate specialists with a solid knowledge of hospitality-related investments and financing, both in the United States and internationally. The firm has offices in major U.S. cities, including Atlanta, Austin, Boston, Dallas, Houston, Indianapolis, Los Angeles, New York, Philadelphia and San Francisco. |
| Contact:
PKF Capital Group
|